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Buck contracted with the Camillus Co. to produce the first 305s in 1968. This one was made by the Camillus Co. '74 to '85. In '85 Buck began producing there own 305s. Nice Knife!!

BCCI LIFE MEMBER #2113

"Guard with jealous attention the public liberty. Suspect every one who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined." --Patrick Henry

I was gonna wait for one my tribe to answer, but they may be watching one of the ball games....which is what I am gonna do shortly.

As stated these are Buck 305 contracted to Camillus to make, as Buck did not have space or equipment to make them at that time. Lots of makers contracted a knife or three to Camillus to make for them.
The blade steel is a 'best' guess. As there may have been some variation on orders. I would call it most likely 440a. A little softer then the highly thought of (in some circles) 440c. C holds an edge better than A.
The scale material is 'Delrin'. See the link below provided by 'Mr.' Codger 64'. Basically a tough workable plastic resin. The bolster or ends are nickle/silver and the liners are brass. In only slightly different form they continue to be made today. I call them Sunday or suit knives.
300Bucks

Those old 305s are very cool knives, I have one just like yours. It is a small, serpentine pen knife. A gentleman's knife. Your knife should have a single backspring and spacer/ catch bit. It probably also has asymmetrically ground blades and a nail nick for easy access to the nail nick on the secondary blade. It also has a carbon steel backspring. At first glance, it looks identical to current production 305s, but on closer inspection, there are many differences. It is much more difficult and expensive to make two bladed knives with a single backspring than it is to simply use two springs, which is what the current production knives use. The blades on the old ones are much thicker at the pivot than they are now, and the single spring is much thicker than either of the springs on the new ones. The new knives are also a bit heavier than the old ones.

I like the 305 a lot, it is a very nice pattern. Sort of Buck's answer to the Case Peanut. Although the single backspring 305s are more complicated and aesthetically interesting than those in current production, I don't think they're any better, from a functional standpoint.